Multiple Choice
A business acquires equipment costing $10,000 by making a $2,000 down payment and issuing a note for the balance. This transaction will cause:
A) equipment to be debited for $10,000.
B) notes payable to be debited for $8,000.
C) cash to be credited for $8,000.
D) equipment to be credited for $8,000.
Correct Answer:
Verified
Correct Answer:
Verified
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